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when you think about it, the deficits cast, ove a trillion dollars for the next four years. freckly this will add $80 billion a year. it i nonsense. it is a parody of reality, and the blood is not responsible about their duty is being fiscal managers for the united states. when you think about that, $20 trillion in four years. if you paid off a dollar a second you'rtalking about 670,000 years to pay is tough. the response is impractical, and when you look at the biggess growth which is entitlements and think about the dynamic shift in the demographics, people are getting older, living longer, the costs attributed to that with less workers, our population is not growing at much to mike catastrophic. if they don't do something realistic to curb spending problem. lou: as of tonight it looks like there is nothing ralistic going on in washington d.c. imagine that. it is great to talk with you. i hope he will come back soon and often. amazing, as you saw. editorial cartoonist. up next ralph nader headlines a triumvirate of angry liberals over the weekend. we will have that straigh
when you think about it, the deficits cast, ove a trillion dollars for the next four years. freckly this will add $80 billion a year. it i nonsense. it is a parody of reality, and the blood is not responsible about their duty is being fiscal managers for the united states. when you think about that, $20 trillion in four years. if you paid off a dollar a second you'rtalking about 670,000 years to pay is tough. the response is impractical, and when you look at the biggess growth which is...
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Dec 7, 2012
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and by the way, they were a million% wrong on the deficit. it balanced the budget. not only balanced the budget, it gave us a $236 billion surplus. how do you like that for results? and that's what happened the last time we raised taxes on the upper bracket. so when they tell you the same old lies this time around, there is absolutely no reason to believe it. in fact, there is overwhelming evidence against it. so undeterred, they of course go on none the less. if you're not convinced, let me give you more evidence. look at this chart that i'm going to show you. this is economic growth. in 1991, george h.w. bush does a tax increase. obviously it's going to go down. let's see what happens. >> whoa. >> wait a minute, economic activity and the economy boomed. clinton in 1993 did another tax increase. then it must have crashed right? let's see what happens. whoa, it went up again. interesting, right? then of course, we have a bubble in terms of the tech crash you remember in 2000. it went down a little bit but then we had a tax cut in 2001 under george w. bush. after the
and by the way, they were a million% wrong on the deficit. it balanced the budget. not only balanced the budget, it gave us a $236 billion surplus. how do you like that for results? and that's what happened the last time we raised taxes on the upper bracket. so when they tell you the same old lies this time around, there is absolutely no reason to believe it. in fact, there is overwhelming evidence against it. so undeterred, they of course go on none the less. if you're not convinced, let me...
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Dec 6, 2012
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deficit to gdp? >> did i say that? >> just to be clear -- if you look to the 10-year period on the current base line and get under 1% deficit to gdp in 10 years -- >> because you get seven years of debt reduction under current law. >> if anyone wants to read more, please read the piece on what it takes. i thank you all for being here today. one reason we have to end is these poor people will be so instrumental in getting us out of this mess that we have to get them back to work. >> we only wish we were winding up. >> senators, thank you, congressman, thank you. >> we will continue to examine the so-called fiscal cliff with armstrong williams. we will also be joined by sam goldfarb. live on c-span every day at 7:00 eastern. over the next hour and a half, some of yesterday's events involving the fiscal cliff. first, house leaders discuss how continuing negotiations may affect the schedule. in half of an hour, senate leaders comment on the fiscal cliff. after that, house speaker john boehner and minority leader nancy pelo
deficit to gdp? >> did i say that? >> just to be clear -- if you look to the 10-year period on the current base line and get under 1% deficit to gdp in 10 years -- >> because you get seven years of debt reduction under current law. >> if anyone wants to read more, please read the piece on what it takes. i thank you all for being here today. one reason we have to end is these poor people will be so instrumental in getting us out of this mess that we have to get them back...
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Dec 4, 2012
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drivers of the debt and deficit. they need to ring something out of the white house on that side of the equation. >> one thing to understand, when we hear the president say rates have to go up. there is no other way to make this work. this is a purely political statement, it has nothing to do with economics. his own commission, the debt reduction commission he pinted identified $1.1 trillion of what are called the tax expenditures. meaning loopholes and deductions out there. available every year. so over a decade that is $11 trillion of available revenues without raising rates. so all you need to do is get less than one in ten of the dollars. one in ten. you've got a $1 trillion in raised revenues without raising rates. the only reason the president insists on raising rates is because he knows it will destroy the republican unity. it will cause a complete fracture of the republican majority in the house. it will hand him a congress that he can then manipulate for the next two years at least. because the republicans w
drivers of the debt and deficit. they need to ring something out of the white house on that side of the equation. >> one thing to understand, when we hear the president say rates have to go up. there is no other way to make this work. this is a purely political statement, it has nothing to do with economics. his own commission, the debt reduction commission he pinted identified $1.1 trillion of what are called the tax expenditures. meaning loopholes and deductions out there. available...
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Dec 10, 2012
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how do they get the deficit debate back to spending and entitlements? >> they can do that next year once taxes are off the table. these pass an extension of all bush tax cuts which republicans believe is best. >> before the end of the year. >> yes, before christmas. then pass perhaps a second piece of legislation as a fallback if the senate doesn't accept the better piece. it makes accommodations to president obama and allows a hike up to 37% for millionaires. obama has a extreme position. 4% on every family making $250,000 or more. there are a a lot of upper middle class families that don't think they're wealthy if they're paying college tuition making more than $250,000 and less than 750 or a million. there's a tax increase going into effect for those families in obamacare, 1% increase on income and a big 3% increase surcharge on investments. so republicans can say best case, no tax increase, we'll also give you a responsible modest increase so you can satisfy yourself, president obama, that we're increasing taxes on millionaires, not families making
how do they get the deficit debate back to spending and entitlements? >> they can do that next year once taxes are off the table. these pass an extension of all bush tax cuts which republicans believe is best. >> before the end of the year. >> yes, before christmas. then pass perhaps a second piece of legislation as a fallback if the senate doesn't accept the better piece. it makes accommodations to president obama and allows a hike up to 37% for millionaires. obama has a...
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[laughter] >> this comes back to my obsession with the debt and deficit. one of the challenges is that any great business that invests in their work force does best. we have cut back on our public investments. the plan passed by the house of representatives would cut federal spending on all domestic items around education, infrastructure, and a workforce turning to less than 5% of our total public spending. we can argue about the politics of that. that is not a business plan anybody would invest in if you are going to compete. >> one other point that is worth pointing out, if right now our universities were 100% people that were born or raised in america, 0% of people from other countries, and somebody proposed opening up the world, and said, let's have a target that someday half of the students getting these advanced degrees should be from other countries, the proposal would have been like the military service proposal. you have an obligation to serve as the country. if we are going to get educations, then nobody would say, let's take half of those slots,
[laughter] >> this comes back to my obsession with the debt and deficit. one of the challenges is that any great business that invests in their work force does best. we have cut back on our public investments. the plan passed by the house of representatives would cut federal spending on all domestic items around education, infrastructure, and a workforce turning to less than 5% of our total public spending. we can argue about the politics of that. that is not a business plan anybody would...
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Dec 10, 2012
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i want us to bring down our deficits but i want to do it in a balanced, responsible way. and i want to reward -- i want a tax code that rewards businesses and manufacturers, like detroit diesel right here creating jobs right here in redford, right here in michigan. right here in the united states of america. >> rhetoric like that might be working. look at the headline today. end game approaching as it's looking more and more likely that the republicans forced to give in on taxes. house speaker john boehner after a secret white house meeting this weekend says the lines of communication between both sides remain open. but what would the gop demand for a concession on taxes and how much leverage do they have left? let's bring back dr. jay john allen for politico. how are you, sir? >> doing very well. i was concerned about the wheel of misfortune there on the fiscal cliff. >> i'm worried about it, too. but let's talk about that. how much leverage do the republicans have? we know that the president has leverage because elections matter but what kind of leverage do the republic
i want us to bring down our deficits but i want to do it in a balanced, responsible way. and i want to reward -- i want a tax code that rewards businesses and manufacturers, like detroit diesel right here creating jobs right here in redford, right here in michigan. right here in the united states of america. >> rhetoric like that might be working. look at the headline today. end game approaching as it's looking more and more likely that the republicans forced to give in on taxes. house...
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Dec 3, 2012
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don't think we have a president that is serious about getting our debt under control and getting our deficit, which the federal government spending under control, especially when you understand that we have fha in trouble, we have the post office in trouble, we continue to get closer to this incredible fiscal cliff. and i think that the president should take a case study analysis and look at what president calvin coolidge did and president jfk did, john f. kennedy did when they went in and lowered tax rates and you increase revenues which is exactly what we're talking about. >> were you-- did you feel like it was a bait and switch from president obama from what you'd heard about in the campaign and light on the details, but that's one of the things i've heard from members of congress that they thought, wait a second, that's not at all what you thought was going to happen. >> yeah, you're absolutely right. what you see happening right now, dana, is really the art of politics, versus the science of good policy and i think we need to move away from campaign mode and we need to do the things tha
don't think we have a president that is serious about getting our debt under control and getting our deficit, which the federal government spending under control, especially when you understand that we have fha in trouble, we have the post office in trouble, we continue to get closer to this incredible fiscal cliff. and i think that the president should take a case study analysis and look at what president calvin coolidge did and president jfk did, john f. kennedy did when they went in and...
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Dec 7, 2012
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any major structural changes to these programs. we will not block grant medicaid, and we wi
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are...
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Dec 5, 2012
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we went into deficits, deficits as far as the eye could see. deeper and deeper in debt. so you might ask, then, "senator boxer, why are you now supporting those tax cuts being renewed for 98% of the people?" and the answer is, it's a different time and a different place. we're getting out of a recession and we can make up the moneys we need to balance this budget by going just to the top rate, going to the people over $250,000. remember, this plan that we passed in july -- if we could go back to that chart -- that gives a tax break on the first $250,000 of income. and, in essence, giving everybody a tax break on that first $250,000. it's only after that that the taxes go back to clinton era. and because this is a different time and place, i support giving a tax break, continuing it for 98%, but asking the wealthiest to pay their fair share for the greatest country on the face of this earth. my father was born into dire poverty. he was the only one of nine children born in america. he was the only one of nine children to go to college at night in your great state, madam p
we went into deficits, deficits as far as the eye could see. deeper and deeper in debt. so you might ask, then, "senator boxer, why are you now supporting those tax cuts being renewed for 98% of the people?" and the answer is, it's a different time and a different place. we're getting out of a recession and we can make up the moneys we need to balance this budget by going just to the top rate, going to the people over $250,000. remember, this plan that we passed in july -- if we could...
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shot down the theory of closing loopholes to cut the deficit saying it's exactly that. a theory. >> it is not possible for us to raise the amount of revenue that's required for a balanced package if all you're relying on is closing deductions and loopholes. it is possible to do theoretically. it is not possible or wise to do as a practical matter. >> the president then threw a left hook warning republicans who think they might be aim able to use the debt ceiling as leverage in future negotiations and saying essentially dream on. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again, as part of a budget negotiation, which by the way we have never done in our history until we did it last year, i will not play that game. because we've got to break that habit before it starts. >> joining me now from the capitol dome, nbc's luke russert. i don't know, i think that was what we call officially laying the smack down over there at the business roundtable. i was really surprised that the pres
shot down the theory of closing loopholes to cut the deficit saying it's exactly that. a theory. >> it is not possible for us to raise the amount of revenue that's required for a balanced package if all you're relying on is closing deductions and loopholes. it is possible to do theoretically. it is not possible or wise to do as a practical matter. >> the president then threw a left hook warning republicans who think they might be aim able to use the debt ceiling as leverage in...
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reform, making sure that we have the resources we need to protect medicare and that we deal with it, the deficit devastation for a long term and nothing to hurt the growth for the future. >> thank you so much for your time. we greatly appreciate it. >>> and we have some developing news to report to you out of cairo, egypt. officials say at least 60 people have been injured in violent clashes in the past few hours outside the presidential palace. there are reports two people are killed but authorities deny it. tens of thousands of demonstrators at the palace and president morsi reportedly slipped out a back door. we have more from jim maceda in cairo. >> reporter: tamron, this is what many here feared would happen. street battles breaking out between the morsi supporters and demonstrators. last night, it was opposition that seemed to score big, bringing out tens of thousands in to the streets and then of course marching on the presidential palace where eventually morsi andç his riot police were seen actually beating a tactical retreat leaving the palace grounds in the hands of baffled anti-mors
reform, making sure that we have the resources we need to protect medicare and that we deal with it, the deficit devastation for a long term and nothing to hurt the growth for the future. >> thank you so much for your time. we greatly appreciate it. >>> and we have some developing news to report to you out of cairo, egypt. officials say at least 60 people have been injured in violent clashes in the past few hours outside the presidential palace. there are reports two people are...
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Dec 6, 2012
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they said it would woesen the budget deficit decrease quality, and fail to produce economic growth. well what happened? [ bell chimes ] >> stephanie: exactly that. [ ♪ patriotic music ♪ ] >> stephanie: since then the budget deficit has ballooned, the economy has spiraled into the greatest decline since the great depression history has proved that 450 economists were exactly correct. this could push the american economy off of a fiscal cliff, am i missing something here? can it be such a bad thing. not really said the cbo. if congress extents current policy, the debt and deficit will increase slowing the economy and dramatically increasing interest costs. because of the deal congress and the president made last year it be result in across the board budget reductions, still there will be no decreases in social security, medicare and veteran's benefits. defense spending would take a big hit, but because of a windown in afghanistan some military leaders are asking for less than congress is willing to shell out. from 1990 to 1999 defense spending decreased by 1% a year. this weakened
they said it would woesen the budget deficit decrease quality, and fail to produce economic growth. well what happened? [ bell chimes ] >> stephanie: exactly that. [ ♪ patriotic music ♪ ] >> stephanie: since then the budget deficit has ballooned, the economy has spiraled into the greatest decline since the great depression history has proved that 450 economists were exactly correct. this could push the american economy off of a fiscal cliff, am i missing something here? can it...
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Dec 4, 2012
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it is not part of the american deficit. it's an issue that over the years has come back before the american public. the congresses in the past have dealt with it, extended the viability of social security for years and years, and this congress does not need to deal with this problem this year or even next year, the 113th congress. down the road it must be dealt with and there are numerous ways it can be, but to bring social security into the deficit debate is only to cloud this debate and to make it far more difficult for us to find a solution. now, my democratic colleagues and i and the president have made it very clear, we understand the necessity of solving this problem. we are willing to compromise. and the president has put on the table a very complex, detailed program about how we can deal with the deficit, both in the short term and the years ahead. and we need to proceed with that, unfortunately it was just simply dismissed and a new, actually a rebaked, redone, rehashed proposal put on the table by our republican c
it is not part of the american deficit. it's an issue that over the years has come back before the american public. the congresses in the past have dealt with it, extended the viability of social security for years and years, and this congress does not need to deal with this problem this year or even next year, the 113th congress. down the road it must be dealt with and there are numerous ways it can be, but to bring social security into the deficit debate is only to cloud this debate and to...
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. >> the percentage of your debt -- not the deficit to gdp? >> deficit to gdp. now, we do not want to get there that way. the same way we do not want to go over the fiscal class. the fiscal cliff is big austerity -- you get $seven trillion in deficit reduction over 10 years. but you do not do it you really want to do it. when it comes to the baseline, you have to work together as part of an agreement to get to the right baseline. that does not mean it is not real world deficit-reduction. it is. does it mean it is better than current law? maybe not. but there is agreement that current law, including the fiscal cliff, is not the best way. >> we have our baseline. deficit to gdp? >> did i say that? >> just to be clear -- if you look to the 10-year period on the current base line and get under 1% deficit to gdp in 10 years -- >> because you get seven years of debt reduction under current law. >> if anyone wants to read more, please read the piece on what it takes. i thank you all for being here today. one reason we have to and is these poor people will be so instrum
. >> the percentage of your debt -- not the deficit to gdp? >> deficit to gdp. now, we do not want to get there that way. the same way we do not want to go over the fiscal class. the fiscal cliff is big austerity -- you get $seven trillion in deficit reduction over 10 years. but you do not do it you really want to do it. when it comes to the baseline, you have to work together as part of an agreement to get to the right baseline. that does not mean it is not real world...
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Dec 4, 2012
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in my testimony before the joint select committee on deficit reduction, i simply took the midpoint of the public offers to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaking boehner's letter, but the question i wanted the to ask you -- >> can we spend one more point on that? >> of course. >> what did he say? that was the midpoint of a compromise from the two. so, here's speaker boehner who is taking a new point on the compromise between the two sides and offered it and it's already flatly rejected? >> i think what he might be rejecting, sir, if i may -- >> no, i'm not talking abo about erskine bowles. >> i think what he's saying in his statement, this letter from speaker boehner does not represent his theerly, number one, but i think the line the white house is have been problems with, i believe i found it in page two of the speaker's letter, he says this. notably, the new revenue in the bowles plan would not be a i chiefed through higher taxes, which we continue to oppose and will not agree to in order to protect small businesse
in my testimony before the joint select committee on deficit reduction, i simply took the midpoint of the public offers to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaking boehner's letter, but the question i wanted the to ask you -- >> can we spend one more point on that? >> of course. >> what did he say? that was the midpoint of a compromise from the two. so, here's speaker boehner who is taking a new point on the...
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Dec 8, 2012
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deficit-reduction. what does reduce the deficit is jobs. job creation. what we need are the revenues, and that is what you have to ask the question about. why are we not hear to pass additional tax cuts which increases the high-end contribution to the budget talks? why are we not here to pass a middle-income tax cuts? what are we not even here to debate the middle-income tax cut? can it meet because the republicans are holding this as they have all along hostage to tax cuts for the wealthy? as long as they will not touch one hair on the head or get one red cent of their rich, to reduce the deficit, to create jobs, to grow the economy, to improve the lives of the american people -- >> the speaker was asking about middle ground. do you necessarily rule it out? is it your understanding that that is something he would accept? >> what we want to do is protect the middle class. is not above the rate. it is about the money. the objection to extending it is about being punitive to the high end. it is about getting money to reduce the deficit, to grow the economy
deficit-reduction. what does reduce the deficit is jobs. job creation. what we need are the revenues, and that is what you have to ask the question about. why are we not hear to pass additional tax cuts which increases the high-end contribution to the budget talks? why are we not here to pass a middle-income tax cuts? what are we not even here to debate the middle-income tax cut? can it meet because the republicans are holding this as they have all along hostage to tax cuts for the wealthy? as...
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it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the house majority whip. congressman, welcome. good to see you this morning. >> thanks for having me. martha: so you put your number out there, you know, all kinds of response across the board this morning saying that it is, you know, equally laughable, ridiculous. there's no way that the white house is going to counter that offer. what do you think about that? >> well, i think that's sad, because think about what this president said when he campaigned. he said he wanted a balanced approach. he said he wanted 800 billion in revenue and 800 billion in revenue we provide. we also provide that balanced approach where he wanted two and a half cuts t
it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the house majority whip. congressman, welcome. good to see you this morning. >> thanks for...
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isn't the tax debate now blocking progress towards the larger issue which is getting -- attacking the deficit with real spending cuts? >> i think there is, but let me make very apparent i think the speaker is right. i think the proposal he's put on the table is a great proposal that we ought to not raise rates. there's other ways to get revenue that honestly are more economically productive in the long term. having said that, again, i think you might be better served to do this in pieces. first, we disagree with the democrats on a lot of things but we don't disagree about the 98% of the american people. we don't think their taxes should go up. to me since that's a point of agreement and doesn't affect either side's negotiating position on the other issues we ought to remove it from the table. make sure most americans don't have to worry about their taxes going up. having said that, again, i think the speaker's right on in terms of the proposal he's put out there. most importantly, he couples it with something the president doesn't, which is really significant spending cuts and entitlepment re
isn't the tax debate now blocking progress towards the larger issue which is getting -- attacking the deficit with real spending cuts? >> i think there is, but let me make very apparent i think the speaker is right. i think the proposal he's put on the table is a great proposal that we ought to not raise rates. there's other ways to get revenue that honestly are more economically productive in the long term. having said that, again, i think you might be better served to do this in pieces....
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the deficit is $1.9 trillion. megyn: mark, the point that i'm trying to get to, is there some arrogance or bias, anything inappropriate about the media being oh focused on the tax debate as opposed to where are the spending cuts? >> i don't think so. this is because there hasn't been any serious proposal for spending cuts and it's true of the republicans as well. you don't see republicans coming out saying they want to cut spending on specific things. the president put forward a plan that included a few spending cuts. now it's the republicans' turn to show what they are willing to cut spending on. megyn: before i go, the president came out with a $400 billion in proposed spending cuts from his last budget. mitch mcconnell came out with spending cuts when it comes to medicare, maybe adjusting the cost of living for social security. but they are too timid because this is an issue on which people vote and no one wants to talk about it. am i wrong? >> here is where you are slightly wrong. there is a framework. paul ry
the deficit is $1.9 trillion. megyn: mark, the point that i'm trying to get to, is there some arrogance or bias, anything inappropriate about the media being oh focused on the tax debate as opposed to where are the spending cuts? >> i don't think so. this is because there hasn't been any serious proposal for spending cuts and it's true of the republicans as well. you don't see republicans coming out saying they want to cut spending on specific things. the president put forward a plan that...
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situation with respect to our deficit and debt is a national security liability. we need our senior leadership. we need a senior leadership to take it on. we have an opportunity to do so. we have a requirement to do so. at the foundation of national power is ultimately economic comment and in terms of global influence, in terms of the ability to support a military, the economic is foundation. and we have i think the united states, both an opportunity to require it to get our house in order, and i believe that our 100 senators and members of the house will step up on this and sufficient majority in the coming months. >> how do you look at your surplus of the u.s.? does that say we have america under our control? >> we are one of the closest allies of the united states. so of course our position today to united states is very, very decisive, strengthen our relationship. so these are not, there is no intention for us to try to use this kind of economic relationship in different context. so we are very satisfied with the current relationship with the united states. th
situation with respect to our deficit and debt is a national security liability. we need our senior leadership. we need a senior leadership to take it on. we have an opportunity to do so. we have a requirement to do so. at the foundation of national power is ultimately economic comment and in terms of global influence, in terms of the ability to support a military, the economic is foundation. and we have i think the united states, both an opportunity to require it to get our house in order, and...
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deficit to gdp? >> did i say that? >> just to be clear -- if you look to the 10-year period on the current base line and get under 1% deficit to gdp in 10 years -- >> because you get seven years of debt reduction under current law. >> if anyone wants to read more, please read the piece on what it takes. i thank you all for being here today. one reason we have to end is these poor people will be so instrumental in getting us out of this mess that we have to get them back to work. them back to work.
deficit to gdp? >> did i say that? >> just to be clear -- if you look to the 10-year period on the current base line and get under 1% deficit to gdp in 10 years -- >> because you get seven years of debt reduction under current law. >> if anyone wants to read more, please read the piece on what it takes. i thank you all for being here today. one reason we have to end is these poor people will be so instrumental in getting us out of this mess that we have to get them back...
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everyone agrees we need to bring down our deficit and strengthen our economy for the long-term. the question is whether we can do it in a responsible way that allows us to keep investing in the things that have always made america strong. i'm convinced we can. and if both sides are willing to compromise, i believe we can give businesses and families a sense of security going into the new year. thanks, and have a great weekend. >> hello, i'm marco rubio. i have the honor of representing florida in the united states senate, and the privilege of addressing you today on behalf of my fellow republicans. our middle class has made america different from the rest of the world. every country has rich people. but only a few places have achieved a vibrant and stable middle class. and none has been more vibrant and more stable than ours. but now a growing opportunity gap has developed between the dreams of millions of americans and the opportunities for them to actually realize them. americans are struggling to find or keep middle class jobs for two reasons -- because our economy is not cre
everyone agrees we need to bring down our deficit and strengthen our economy for the long-term. the question is whether we can do it in a responsible way that allows us to keep investing in the things that have always made america strong. i'm convinced we can. and if both sides are willing to compromise, i believe we can give businesses and families a sense of security going into the new year. thanks, and have a great weekend. >> hello, i'm marco rubio. i have the honor of representing...
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Dec 3, 2012
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it has no effect on deficit. it will have no effect on rescuing us and i think republicans ought not play that game. it doesn't help the economy. >> stephanie: how many times can we -- can it be said and proven the deficits were caused by the bush tax cuts? >> so obama created this whole fiscal cliff for an election issue. the amazing thing is no one talked about this during the campaign. it was the day after the election that suddenly d.c. and the d.c. press was abuzz about the fiscal cliff. this wasn't a campaign issue. no one even talked about it. >> stephanie: right. >> the idea that this is all obama's fault. it has nothing to do with the $3 trillion war paid for with taxes. >> stephanie: eric boehlert remains in the sidecar. we continue with right-wing world next on "the stephanie miller show." >> announcer: it's really weird but it's also the coolest thing i've ever heard in my whole life. >> announcer: it's "the stephanie miller show." that viewers like about the young turks is that we're honest. they can
it has no effect on deficit. it will have no effect on rescuing us and i think republicans ought not play that game. it doesn't help the economy. >> stephanie: how many times can we -- can it be said and proven the deficits were caused by the bush tax cuts? >> so obama created this whole fiscal cliff for an election issue. the amazing thing is no one talked about this during the campaign. it was the day after the election that suddenly d.c. and the d.c. press was abuzz about the...
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Dec 10, 2012
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um, the budget deficit, um, and then foreign policy. so the four top issues were the same in a slightly different order than they were for the rest of the electorate. um, the budget deficit and health care were in opposite places for the rest of the electorate. um, time it was a little more -- this time it was a little more those domestic issues, those domestic-driven issues than four years ago in my experience. again, part of that is where the media was focused, and the nature of the spanish-speaking community in south florida that's particularly foreign policy driven. but this time even that community wasn't -- and to the extent i was talking about foreign policy, i was talking about benghazi rather than cuba. >> last question, you didn't use the word immigration. immigration was not in that -- >> it came up a little, it came up -- >> a little bit. >> it came up a little bit, and it came up in the following way, um, people wanted to know that the president cared about the issue. they wanted to understand why it hadn't been achieved in
um, the budget deficit, um, and then foreign policy. so the four top issues were the same in a slightly different order than they were for the rest of the electorate. um, the budget deficit and health care were in opposite places for the rest of the electorate. um, time it was a little more -- this time it was a little more those domestic issues, those domestic-driven issues than four years ago in my experience. again, part of that is where the media was focused, and the nature of the...
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Dec 5, 2012
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. >> we are not going to simply cut our way to prosperity or cut our way out of this deficit problem. we are going to need more revenues. in order to do that that start with higher rates for the folk at the top. the reasonien, the reason i say that is not to punish success or go after folk just because they are wealthy. it's a simple proposition that you can't raise enough revenue and if you don't raise enough revenue through closing loopholes abductions, it's going to be middle class families that make up the difference. bill: john boehner will speak later this hour. we'll see how he responds to that comment. if washington can't get a deep, automatic tax increases and massive spending cuts do take effect. martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget management says $115 billion was misspent. that's a tremendous savings right there. they are both much lower than everyone says we need. all economists say we need a minimum of $4 trillion
. >> we are not going to simply cut our way to prosperity or cut our way out of this deficit problem. we are going to need more revenues. in order to do that that start with higher rates for the folk at the top. the reasonien, the reason i say that is not to punish success or go after folk just because they are wealthy. it's a simple proposition that you can't raise enough revenue and if you don't raise enough revenue through closing loopholes abductions, it's going to be middle class...
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Dec 4, 2012
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jenna: "happening now", house republicans are putting their offer on the table to cut the deficit and avoid the fiscal cliff. it calls for collecting an additional $800 billion in revenue over 10 years without raising tax rates. and that's balanced by the reduction of $800 billion in spending from federal programs. a lot of ins and outs there. we just tried to boil it down for you because in all the republican plan will cut the deficit by $1.6 trillion. so far democrats are uninspired by this. here is what democratic congressman chris van hollen of maryland had to say last night on "special report". >> the big difference, bret, between the way the president proposed to deal with medicare and the republicans, the republican plan, their definition of reform is simply to pass rising health care costs onto the backs of seniors. our view, you can modernize the medicare system to change incentives to move a system not strictly fee-for-service. jenna: congresswoman cathy mcmorris rodgers from washington state, congresswoman, is that what you're trying to do? >> we're about saving these entit
jenna: "happening now", house republicans are putting their offer on the table to cut the deficit and avoid the fiscal cliff. it calls for collecting an additional $800 billion in revenue over 10 years without raising tax rates. and that's balanced by the reduction of $800 billion in spending from federal programs. a lot of ins and outs there. we just tried to boil it down for you because in all the republican plan will cut the deficit by $1.6 trillion. so far democrats are uninspired...
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Dec 8, 2012
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social security has not distributed to the deficit. it's just irresponsible to even put social security in a discussion as we are trying to get a deal. medicare can, i think, be massaged in terms of means testing. with the upper income individuals paying more or sometimes all of their medical expenses, it makes no sense for the government to pay medicare costs for someone earning $700,000 a year. so i think we can do some means testing. but by no means am i saying it should be low enough so our elderly and poorist americans are going to pay for the deficit. but we want a deal. and keep in mind, i think this is very important. if the bush tax cuts are expired, as they will be, just as sure as today is friday, they are gone, that generates $950 billion toward the deficit over a ten-year period. we'd set aside $1.2 trillion. we're almost there. and if you do means testing on medicare, we make it. >> well, the republicans would never go along with that kind of means testing because that would hit the wealthier americans. that's who they ar
social security has not distributed to the deficit. it's just irresponsible to even put social security in a discussion as we are trying to get a deal. medicare can, i think, be massaged in terms of means testing. with the upper income individuals paying more or sometimes all of their medical expenses, it makes no sense for the government to pay medicare costs for someone earning $700,000 a year. so i think we can do some means testing. but by no means am i saying it should be low enough so our...
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the deficit is down. borrowing is down. jobs are being created. it is a hard road, but we are making progress. everything that we do, we are helping those who want to work hard and get along. thank you. [cheers] [cheers] >> mr. speaker, today after 2.5 years, we can see and people can feel in the country the scale of this government economic failure. [cheers] our economy this year is contracting. the conferred government borrowing is revised this year and every year. the national deficit is not rising. excuse me, it is rising, it is not falling. [cheers] i will say again that our economy is contracting this year. government rowling is revised up and the national debt is rising. it is not falling. there are people struggling to make ends meet. middle and lower income families who are paying the price. where millionaires get a tax cut and a 3 billion-pound welfare handout to the people who need it. let me spell out the facts. you might learn something. [cheers] [applause] [cheers] >> in june of 2010, our economy would grow by 2.8% this year. in marc
the deficit is down. borrowing is down. jobs are being created. it is a hard road, but we are making progress. everything that we do, we are helping those who want to work hard and get along. thank you. [cheers] [cheers] >> mr. speaker, today after 2.5 years, we can see and people can feel in the country the scale of this government economic failure. [cheers] our economy this year is contracting. the conferred government borrowing is revised this year and every year. the national deficit...
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Dec 9, 2012
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any major structural changes to these programs. we will not block grant medicaid, and we wi
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are...
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Dec 7, 2012
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the problem is the deficit. i know i've gotten a lot of hate mail from both the right and the left -- >> no, you're being honest. >> the fact of the matter is, we have to balance the budget. we've been in an economic recovery for three years. we're not where we ought to be. the longer you put this big deficit on, the harder it's going to be later on. >> katie, i'm sorry but lost you for a minute. i'm worried, katie, because the gop is in an unenviable political position after the election, because they're not talking about enough spending and entitlement cuts, what you hear is defending tax cuts for the rich. in other words, the gop is becoming the party of rich people and that's not where they ought to be. >> the problem is marketing. and republicans have had a big problem with marketing since the ronald reagan days. they need to get on the ground and talk about how these tax cuts affecting the rich will affect the middle class. democrats have been getting away with saying that the rich are the ones who need to
the problem is the deficit. i know i've gotten a lot of hate mail from both the right and the left -- >> no, you're being honest. >> the fact of the matter is, we have to balance the budget. we've been in an economic recovery for three years. we're not where we ought to be. the longer you put this big deficit on, the harder it's going to be later on. >> katie, i'm sorry but lost you for a minute. i'm worried, katie, because the gop is in an unenviable political position after...
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but you've got to be committed to some kind of real deficit reduction. and that's where, beyond the spending, being serious about entitlements, there's got to at least be some framework that says, look, we are going to reduce the size and the scope of government. and that's -- finding that pain point on both sides so it's not a lopsided deal will at least give republicans the room to argue, look, we can take this pain. we've won some concessions back, but we have to do this. >> that should be done in private and together. >> and again, though, the ratio between tax increases to spending cuts is a wide, wide gap. medicare and medicaid and social security together, taken with interest and the debt, that's consuming every dime that's coming into washington, d.c., right now. people talk about -- democrats have talked about for a decade, the bush tax cuts. they've driven up the national debt. fine. if that's the case, why is it that the president, as you've said earlier, is embracing 98% of the bush tax cuts? >> except that isn't true. >> of course it's not t
but you've got to be committed to some kind of real deficit reduction. and that's where, beyond the spending, being serious about entitlements, there's got to at least be some framework that says, look, we are going to reduce the size and the scope of government. and that's -- finding that pain point on both sides so it's not a lopsided deal will at least give republicans the room to argue, look, we can take this pain. we've won some concessions back, but we have to do this. >> that...
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everyone agrees we need to bring down our deficit and strengthen our economy for the long-term. the question is whether we can do it in a responsible way that allows us to keep investing in the things that have always made america strong. i'm convinced we can. and if both sides are willing to compromise, i believe we can give businesses and families a sense of security going into the new year. thanks, and have a great weekend. >> hello, i'm marco rubio. i have the honor of representing florida in the united states senate, and the privilege of addressing you today on behalf of my fellow republicans. our middle class has made america different from the rest of the world. every country has rich people. but only a few places have achieved a vibrant and stable middle class. and none has been more vibrant and more stable than ours. but now a growing opportunity gap has developed between the dreams of millions of americans and the opportunities for them to actually realize them. americans are struggling to find or keep middle class jobs for two reasons -- because our economy is not cre
everyone agrees we need to bring down our deficit and strengthen our economy for the long-term. the question is whether we can do it in a responsible way that allows us to keep investing in the things that have always made america strong. i'm convinced we can. and if both sides are willing to compromise, i believe we can give businesses and families a sense of security going into the new year. thanks, and have a great weekend. >> hello, i'm marco rubio. i have the honor of representing...
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you can look at -- >> i agree. >> stephanie: tax cuts proveably caused these deficits. the social security does not -- doesn't add a cent to the deficit. >> i ran on this in a conservative district very clearly stated my position that i did not want to. i had to last time when the president asked us to, to extend all of the taxes for one year and that was a darn bitter pill for me to swallow. i was one of the democrats that voted on to get it through. i'm not going to do it again. it doesn't add to the economy and those top 2 don't need to get done. we all do agree on the bottom ones and i just -- i think now they've got themselves in a pretty tight box. i hope you keep beating the drum on this. >> stephanie: i think you're a helper. you're giving them an out. >> always the helpful teacher. [ laughter ] >> stephanie: representative tim walz of the great state of representative, thank you. talk to you soon. >> thank you. >> stephanie: you know what he is? he's someone who gets it done. brought to you by granger. >> oh, my god! >> stephanie: that's right. with over 900,00
you can look at -- >> i agree. >> stephanie: tax cuts proveably caused these deficits. the social security does not -- doesn't add a cent to the deficit. >> i ran on this in a conservative district very clearly stated my position that i did not want to. i had to last time when the president asked us to, to extend all of the taxes for one year and that was a darn bitter pill for me to swallow. i was one of the democrats that voted on to get it through. i'm not going to do it...
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Dec 7, 2012
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but reduces the deficit is jobs. -- what reduces the deficit is jobs. why are we not here to pass the middle-income tax cuts, which unleashes -- creases the high- and contribution to the budget talks? why are we not here to pass middle-income tax cuts? debatee we not heare to the middle-income tax cuts? could it be that deep republicans are holding the middle-income tax cuts hostage to tak cuts for the wealthy? as long as they will not touch one red cent from the high end, we will never have the revenue to combine with the savings and spending cuts to reduce the deficits to create jobs, grow the economy, and improve the lives of americans. [indiscernible] we want to protect the middle class. it is not about the rates. it is about the money. it is about being a fugitive to the high end. it is about giving money to reduce the deficit, perot the economy, and unleash the power. it depends on how much money you can get and say, they will pay less. the middle class will pay more. >> 37% would bring in reckless and revenues? >> i do not know that. -- 37% would
but reduces the deficit is jobs. -- what reduces the deficit is jobs. why are we not here to pass the middle-income tax cuts, which unleashes -- creases the high- and contribution to the budget talks? why are we not here to pass middle-income tax cuts? debatee we not heare to the middle-income tax cuts? could it be that deep republicans are holding the middle-income tax cuts hostage to tak cuts for the wealthy? as long as they will not touch one red cent from the high end, we will never have...
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Dec 10, 2012
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solman explores the tax deductions that could be on the chopping block in the quest to bring down the deficit. >> we estimate $1.1 trillion a year in revenue the government gives up because of all the tax breaks. that's enough to solve the revenue problem but it's not going to happen. >> ifill: ray suarez has a newsmaker interview with secretary of homeland security janet napolitano. >> you can discuss border security and immigration reform simultaneously now. we don't have to this kind of first this and then that. at this point they actually go together. >> woodruff: special correspondent rick karr reports on the polluted waters that spilled into new york homes and businesses in superstorm sandy, raising health concerns. >> everybody sort of got sick at the same time. all of us sort of attributed it to, well, we're all stressed out. it's very cold. but that said, there is a lot of nasty stuff hanging about. >> ifill: and hari sreenivasan has an update on the dangerous working conditions in bangladesh, where more than 100 workers have died over the past month. that's all ahead on tonight's ne
solman explores the tax deductions that could be on the chopping block in the quest to bring down the deficit. >> we estimate $1.1 trillion a year in revenue the government gives up because of all the tax breaks. that's enough to solve the revenue problem but it's not going to happen. >> ifill: ray suarez has a newsmaker interview with secretary of homeland security janet napolitano. >> you can discuss border security and immigration reform simultaneously now. we don't have to...
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. >>> i now want to bring in a man who says president obama's plan would create jobs and cut the deficit. he's democratic congressman chris van hollen, maryland, ranking member of the house budget committee. welcome to you, sir. you said today -- >> good to be with you. >> good to be with you, too. we're in the fourth quarter as we approach the fiscal cliff. if we can deliver like rg iii delivers, we'll be doing well. the question i would ask is why the hell are we in the fourth quarter? why wasn't this done in the first quarter? >> well, piers, as you know, there were a number of efforts before the election to get this done and there were major differences between the parties, and those parties became a big part of the conversation during the presidential debate. the president could not have been clearer that he wanted to do two things. he wanted to boost economic growth by doing things like investing in our infrastructure which used to be a bipartisan idea, but also, extending middle class tax cuts and as you said, asking the wealthiest to pay a little bit more to reduce the deficit. t
. >>> i now want to bring in a man who says president obama's plan would create jobs and cut the deficit. he's democratic congressman chris van hollen, maryland, ranking member of the house budget committee. welcome to you, sir. you said today -- >> good to be with you. >> good to be with you, too. we're in the fourth quarter as we approach the fiscal cliff. if we can deliver like rg iii delivers, we'll be doing well. the question i would ask is why the hell are we in the...
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we say don't reduce the deficit now this fast. that is what the fiscal cliff is all about and that's why ben bernanke cannot put the phrase. guest: as exactly right, we have two very different problems. the only reason we're talking about the second issue is politics. this is the politics of the moment tromping economic common sense which is a dangerous combination. guest: the fiscal solution is a fig leaf to allow members of congress to say we're going to spend so the spending cuts and tax increases and let the deficit be $500 billion higher. host: the debt is at $16.30 trillion and has increased $4 trillion over the last four years. the present and congress will say that over the next 10 years, we will get it back to where was in 2009, correct? guest: that is fundamentally not good enough. countries with our level of indebtedness grow more slowly and they have a higher chance of some sort of fiscal crisis. we should not mess with either one of those things. i would like to see an aggressive reform of the spending programs. let's
we say don't reduce the deficit now this fast. that is what the fiscal cliff is all about and that's why ben bernanke cannot put the phrase. guest: as exactly right, we have two very different problems. the only reason we're talking about the second issue is politics. this is the politics of the moment tromping economic common sense which is a dangerous combination. guest: the fiscal solution is a fig leaf to allow members of congress to say we're going to spend so the spending cuts and tax...
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he does not want to address the deficit. he should be calling for tax rate increases across the board and the elimination of many of the deductions that currently deprive the treasury of quite a bit of revenue. there is a lot of talk about how raising the tax rate for the top tier of newcomers will bring in -- income earners wil bring in like de dollars billion per year. at the same time -- in like $80 billion. the losses from the mortgage rate deduction is on the order of $100 billion per year. i believe president obama really wants to spend more money. spending is so important that he has to call for shared sacrifice across the board rather than targeting a very small portion of the population and asking them to pay all the bills for the programs that he wants to spend on. host: do you agree with the grover norquist tax pledge to not raise taxes? caller: in service of the tax rates? yes, i do. i am also left scratching my head because i believe when the bush tax cuts were put into effect that many democrats oppose those as
he does not want to address the deficit. he should be calling for tax rate increases across the board and the elimination of many of the deductions that currently deprive the treasury of quite a bit of revenue. there is a lot of talk about how raising the tax rate for the top tier of newcomers will bring in -- income earners wil bring in like de dollars billion per year. at the same time -- in like $80 billion. the losses from the mortgage rate deduction is on the order of $100 billion per...